On Wednesday, Alibaba Group Holding Ltd (NYSE:BABA)’s shares inclined 3.59% to $67.18.
Cainiao, the logistics associate of Alibaba Group Holding Limited (BABA), and the United States Postal Service (USPS) signed a Memorandum of Understanding (MoU) to develop new international shipping solutions and enhance the logistics-service experience for both sellers and buyers involved in cross-border e-commerce. Through the MOU, Cainiao and the USPS agreed to work together to speed delivery of merchandise sold through AliExpress to consumers in the United States. The USPS will also collaborate with Cainiao to assist expand the latter’s delivery netoperates worldwide, especially in South America.
In cross-border e-commerce, online shoppers purchase goods directly from overseas merchants and manufacturers who ship their orders directly to consumers’ homes. The global B2C cross-border e-commerce market is predictable to grow from $230 billion in 2014 to $1 trillion in 2020, according to a report from global consulting firm Accenture and AliResearch, Alibaba Group’s research arm. The partnership between Cainiao and the USPS seeks to capitalize on growing opportunities in cross-border e-commerce between China and America by making it easier and more efficient for Chinese companies to sell and deliver goods directly to U.S. consumers.
USPS is the leading postal and shipping service provider in the United States. The country’s national mail carrier, the USPS has more than 600,000 employees and delivered more than 155 billion pieces of mail in 2014, generating nearly $68 billion in revenue.
Alibaba Group Holding Limited, through its auxiliaries, operates as an online and mobile commerce company in the People’s Republic of China and internationally. It operates Taobao Marketplace, an online shopping destination; Tmall, a third-party platform for brands and retailers; Juhuasuan, a group buying marketplace; Alibaba.com, an online wholesale marketplace; Alitrip, an online travel booking platform; 1688.com, an online wholesale marketplace; and AliExpress, a consumer marketplace. T
Peabody Energy Corporation (NYSE:BTU)’s shares gained 3.97% to $1.57.
Peabody Energy (BTU) declared a 1-for-15 reverse stock split on shares of the company’s common stock. Authorization to implement the reverse stock split was approved by Peabody shareholders at a special meeting held earlier recently.
The reverse stock split is predictable to become effective at the close of business on
Sept. 30, 2015, which would result in Peabody’s common stock to start trading on a split-adjusted basis at market open on Oct. 1, 2015. Upon completion of the reverse stock split, every 15 shares of common stock owned by a shareholder will be combined into one share of common stock, and the number of outstanding shares will be reduced from about 278 million to about 19 million.
Peabody will not issue fractional shares in connection with the reverse stock split. Shareholders who would otherwise hold fractional shares following the reverse stock split will receive cash in lieu of such fractional shares. The sum will be based on the net proceeds, after customary brokerage commissions and other expenses, resulting from the transfer agent aggregating and selling all fractional share interests into the market. Such proceeds will be paid on a pro rata basis, depending on the fractional amount of shares owned.
Peabody Energy Corporation offers mining of coal. The company operates through Western U.S. Mining, Midwestern U.S. Mining, Australian Mining, Trading and Brokerage, and Corporate and Other segments. It is involved in mining and sale of thermal coal to electric utilities and metallurgical coal for industrial customers.
At the end of Wednesday’s trade, Comcast Corporation (NASDAQ:CMCSK)‘s shares surged 0.43% to $57.84.
Comcast Business declared the creation of a new Enterprise Services unit that will target Fortune 1000 companies and other large enterprises that have multiple locations nationwide. This new enterprise-level service and delivery organization will offer a portfolio of managed enterprise solutions that comprises Broadband, Ethernet, Voice, Router, Security, Business Continuity and Wi-Fi. The company also attained a managed services company and has signed network agreements with other cable operators to further support national accounts.
Comcast Business has already signed large customers from multiple industries, counting financial services firms, banks, hospitality chains and retailers. Technology industry veteran Glenn Katz, formerly the CEO of SpaceNet Inc., will lead the new group within Comcast Business.
According to IDC, a Framingham, MA-based IT industry analyst firm, the U.S. market for managed services is predictable to enhance from $29 billion in 2014 to $52 billion in 2019.
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Netoperates, Broadcast Television, Filmed Entertainment, and Theme Parks segments. The Cable Communications segment offers video, high-speed Internet, and voice services to residential and business customers under the XFINITY brand name.
Basic Energy Services, Inc (NYSE:BAS), ended its Wednesday’s trading session with 6.47% gain, and closed at $4.44.
Basic Energy Services, Inc. (BAS) stated selected operating data for the month of August 2015. Basic’s well servicing rig count remained unchanged at 421. Well servicing rig hours for the month were 51,900 producing a rig utilization rate of 53%, contrast to 52% and 74% in July 2015 and August 2014, respectively.
During the month, Basic’s fluid service truck count raised by eight to 1,015. Fluid service truck hours for the month were 188,100 contrast to 193,200 and 215,100 in July 2015 and August 2014, respectively.
Drilling rig days for the month were 86 producing a rig utilization of 23%, contrast to 19% and 83% in July 2015 and August 2014, respectively.
Basic Energy Services, Inc. provides well site services to oil and natural gas drilling and producing companies in the United States. Its Completion and Remedial Services segment offers pumping services, such as cementing, acidizing, fracturing, nitrogen, and pressure testing; rental and fishing tools; coiled tubing; snubbing services; thru-tubing; cased-hole wireline services; and underbalanced drilling in low pressure and fluid sensitive reservoirs. This segment operates 291 pumping units; and 66 air compressor packages, counting 36 snubbing units, 16 coiled tubing units, and 10 wireline units.
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